First Quantum Minerals to Sell Spanish Las Cruces Mine for Up to $190 Million

First Quantum Minerals ( (TSE:FM) ) has provided an update.

First Quantum Minerals has agreed to sell its wholly owned Cobre Las Cruces mine in Spain to Global Panduro, a company controlled by funds managed by Resource Capital Funds, for consideration of up to $190 million plus a profitability‑linked earn-out. The transaction, which includes an upfront cash payment, a loan note, milestone-based deferred payments and contingent earn-out tied to future exit events, is expected to close in the first half of 2026 subject to customary conditions and regulatory approvals, marking First Quantum’s exit from the Las Cruces polymetallic redevelopment project and handing its next development phase to a private equity-backed buyer.

The most recent analyst rating on (TSE:FM) stock is a Hold with a C$33.50 price target. To see the full list of analyst forecasts on First Quantum Minerals stock, see the TSE:FM Stock Forecast page.

Spark’s Take on TSE:FM Stock

According to Spark, TipRanks’ AI Analyst, TSE:FM is a Outperform.

First Quantum Minerals’ stock is supported by strong technical momentum and robust financial performance, particularly in cash flow generation. However, high valuation metrics and operational challenges in Panama and Sentinel present risks. The positive earnings call sentiment and production achievements contribute to a favorable outlook, but the high P/E ratio suggests caution.

To see Spark’s full report on TSE:FM stock, click here.

More about First Quantum Minerals

First Quantum Minerals is a Toronto-listed global mining company focused on the exploration, development and operation of base metal assets, with a core emphasis on copper and related polymetallic projects across multiple jurisdictions. Its operations include both open-pit and underground mines, producing copper cathodes and other metals that supply industrial and infrastructure demand worldwide.

Average Trading Volume: 2,140,071

Technical Sentiment Signal: Buy

Current Market Cap: C$30.11B

See more insights into FM stock on TipRanks’ Stock Analysis page.